TSX retreats as oil prices fall, United States yields climb

The Dow opened slightly higher on Wednesday, boosted by Boeing's 3.4 per cent jump after strong results, while the Nasdaq and S&P 500 were little changed as United States bond yields climbed above the 3 per cent level. The blue-chip index Dow Jones Industrial Average fell by 423 points (-1.7%) to 24,024.13 points, wiping out an increase of 131 points from the beginning of the session.

Canada's main stock index fell on Tuesday as lower oil prices weighed on energy shares, while investors anxious about the prospect of higher global borrowing costs after the benchmark US 10-year Treasury note yield hit 3 per cent for the first time in four years. That means costs for companies are up. Shares sold off after the company warned revenue growth would slow in the second half of the year.

Industrial and basic materials companies and technology firms took some of the worst losses. This is partly due to the company's president Brad Halverson's statement, according to which the company's forecasts are that the first quarter will be the culmination of the year.

This was over a surge in government-issued debt due arising out of a revenue shortfall - and is related to the Trump administration's massive corporate tax cut, which was passed in December previous year.

"It's not a mystery why these things are happening", Baumohl said. Eastern time. The Dow Jones industrial average was down 509, or 2.1 percent, to 23,982.

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